Budget After the Holidays: Bursaries & Money Hacks
Early January happens to be that awkward moment of the year where the festive vibes from the holidays are gone, and your bank balance is looking rather unhealthy. Therefore, this is the perfect time to reset your budget and make the most of the support that is available through universities.
A good place to start is to create a spreadsheet that contains what is coming in (student loans, wages and so on) and your predicted expenses. If you want extra guidance, the Managing your money modules are genuinely useful for tips regarding common scams and the cost of living in general. A good move is to separate our essential expenses related to rent, bills or travel from everything else (we could include here things like nights out or takeaways). Then bring in some everyday money-saving tactics. Cooking and batch cooking can help you save a little more every month. This can be coupled with other actions such as walking or cycling to get to campus or leveraging student discounts whenever we can.
In terms of bursaries, we recommend checking what support your university offers, even if you assume that you won’t qualify. There may be bursaries and scholarships that could ease some financial pressure, so it’s worth having a look at what may be available. If you are not sure about what applies to your specific case, or your finances have changed recently, financial support advisors may point you to relevant support.
If you have any budgeting hacks that have helped you in the past, feel free to share them in the comments!
#UoN Student Rep Abián.
A good place to start is to create a spreadsheet that contains what is coming in (student loans, wages and so on) and your predicted expenses. If you want extra guidance, the Managing your money modules are genuinely useful for tips regarding common scams and the cost of living in general. A good move is to separate our essential expenses related to rent, bills or travel from everything else (we could include here things like nights out or takeaways). Then bring in some everyday money-saving tactics. Cooking and batch cooking can help you save a little more every month. This can be coupled with other actions such as walking or cycling to get to campus or leveraging student discounts whenever we can.
In terms of bursaries, we recommend checking what support your university offers, even if you assume that you won’t qualify. There may be bursaries and scholarships that could ease some financial pressure, so it’s worth having a look at what may be available. If you are not sure about what applies to your specific case, or your finances have changed recently, financial support advisors may point you to relevant support.
If you have any budgeting hacks that have helped you in the past, feel free to share them in the comments!
#UoN Student Rep Abián.
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